Big tech stocks such as Amazon (AMZN) and Facebook (FB) have been routed this month on fears of regulation and trade wars descending on the red-hot space.
Following a better than expected quarter on Wednesday, BlackBerry (BB) CEO John Chen weighed in on the tech selloff.
"Given the fact the market has been in a bull market for so long, and the high-fliers have seen a really big return, I think what we are seeing is a quick knee-jerk reaction to many things going on," Chen told TheStreet. He added that the action in the stocks reflected more profit-taking than gloom on the future of tech.
WATCH all of our CEO, Executive, Celebrity Interviews on our YouTube Channel
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.
Email
Email sent
Thank you, your email to has been sent successfully.